[Federal Register Volume 64, Number 145 (Thursday, July 29, 1999)]
[Notices]
[Page 41189]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-19208]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Proposed Collection; Electronic License Application Form
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on the Office of Foreign Assets Control's Electronic License
Application Form information collection, as required by the Paperwork
Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).
DATES: Written comments should be received on or before September 27,
1999 to be assured of consideration.
ADDRESSES: Direct all written comments to Dennis P. Wood, Chief,
Compliance Programs Division, or William B. Hoffman, Chief Counsel,
Office of Foreign Assets Control, Department of the Treasury, 1500
Pennsylvania Avenue, NW, Annex-2nd Floor, Washington, DC 20220.
FOR FURTHER INFORMATION CONTACT: Requests for additional information
about the filings or procedures should be directed to Dennis P. Wood,
Chief, Compliance Programs Division, (tel.: 202/622-2490), Office of
Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania
Avenue, NW, Annex-2nd Floor, Washington, DC 20220.
SUPPLEMENTARY INFORMATION:
Title: Electronic Form for OFAC License Applications.
OMB Number: 1505-0170.
Abstract: Transactions prohibited pursuant to the Trading With The
Enemy Act, 50 U.S.C. App. 1-44, and the International Emergency
Economic Powers Act, 50 U.S.C. 1701, may be authorized by means of
specific licenses issued by the Office of Foreign Assets control
(OFAC). Such licenses are issued in response to applications submitted
by persons or institutions whose property has been blocked or who wish
to engage in transactions that would otherwise by prohibited. This
form--which provides a standardized method for all applicants and is
available in electron form on our website--was new upon OMB's initial
approval in December 1998. Applicants are not required to use the form.
However, its use greatly facilitates and speeds applicants' submissions
and OFAC's processing of applications and obviates the need for
applicants to write lengthy letters to OFAC, thus reducing the overall
burden of the application process.
Current Action: Extension.
Type of Review: Extension.
Affected Public: Individuals/ businesses and other for-profit
institutions/ banking institutions.
Estimated Number of Respondents: 2,751.
Estimated Time Per Respondent: 30 minutes.
Estimated Annual Burden Hours: 1,376.
Request for Comments
Comments submitted in response to this notice will be summarized
and/or included in the request for OMB approval. All comments will
become a matter of public record. Comments are invited on: (a) Whether
the collection of information is necessary for the proper performance
of the agency's functions, including whether the information has
practical utility; (b) the accuracy of the agency's estimate of the
burden of the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information to be collected; and
(d) ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology; and (e) estimates
of capital or start-up costs and costs of operation, maintenance, and
purchase of services to provide information.
Dated: July 14, 1999.
Dale A. Morgan,
Departmental Reports Management Officer, Department of the Treasury.
[FR Doc. 99-19208 Filed 7-28-99; 8:45 am]
BILLING CODE 4810-25-P
